Saturday 17 October 2026 Export MTB’s income statement to Excel — free account

M&T Bank Corporation

M&T Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $13.2 billion, down 1.67% from fiscal 2024. In the quarter to June 2026, revenue grew 2.07%, EPS grew 25.6%, free cash flow grew 52.4% and total debt rose 9.60%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years.

215.28 3.37 −1.54%

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Market cap: $31.6B
P/E: 11.3×
Fwd P/E: 11.9×
Dividend yield: 2.79%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 26.38

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	—	2	5	—	—	1	3	2	4	1	—

Insider Ownership 1.36%

Capital & Financial Ratios $m

Market Cap 31,580.00

Revenue 13,350.00

Net Income 3,033.00

Free Cash Flow 3,595.00

Net Debt (3,870.00)

Current Ratio 0.96

Debt/Equity 0.49

P/E ratio 11.29

Fwd P/E 11.90

P/S ratio 2.35

P/B ratio 1.23

Past 5Y EPS Growth 11.33%

This Y EPS Growth 13.52%

Next Y EPS Growth 8.85%

Next Y revenue growth (24.00%)

Next 5Y EPS Growth 10.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 26.50%

10-year low 10-year high

P/S against its own 10 years 27.50%

10-year low 10-year high

P/B against its own 10 years 45.78%

10-year low 10-year high

Dividends

Payout Ratio 0.32

Annual Dividend Rate 6.00

Annual Dividend Yield 2.79%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	6.15	1.50 1.50 1.50
2025	5.70	1.35 1.35 1.50 1.50
2024	5.35	1.30 1.35 1.35 1.35
2023	5.20	1.30 1.30 1.30 1.30
2022	4.80	1.20 1.20 1.20 1.20
2021	4.50	1.10 1.10 1.10 1.20
2020	4.40	1.10 1.10 1.10 1.10
2019	4.10	1.00 1.00 1.00 1.10
2018	3.55	0.75 0.80 1.00 1.00
2017	3.00	0.75 0.75 0.75 0.75
2016	2.80	0.70 0.70 0.70 0.70

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	29,906	20,883	18,866	17,438
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	171,016	163,790	166,703	170,648

	2023	2024	2025	Q'26
Payables	163,274	161,095	166,909	168,885
ST’ Debt	—	—	—	—
Other	—	—	—	—
	173,106	166,473	173,422	177,747

Compound Annual Growth %

	10y	5y	3y
Sales	10.23%	16.06%	15.42%
Cash Flow	5.59%	30.64%	(13.09%)
Earnings	10.58%	16.11%	12.59%
Book Value	6.08%	12.51%	4.84%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,225	3,360	—	—	—
’25	3,171	3,292	3,432	3,333	13,228
’24	3,325	3,373	3,391	3,364	13,453
’23	2,914	3,319	3,201	3,318	12,752
’22	1,469	2,036	2,345	2,754	8,604
’21	1,523	1,484	1,562	1,537	6,106
’20	1,650	1,520	1,522	1,590	6,281

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,012	1,268	—	—	—
’25	635	844	1,001	523	3,003
’24	608	1,354	(28)	1,676	3,610
’23	428	1,257	1,420	800	3,905
’22	1,296	1,187	1,137	954	4,574
’21	995	537	486	697	2,715
’20	(394)	526	(6)	664	789

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	916	1,247	—	—	—
’25	610	818	965	467	2,860
’24	573	1,288	(58)	1,591	3,394
’23	373	1,211	1,353	712	3,649
’22	1,268	1,128	1,098	867	4,360
’21	964	524	444	635	2,566
’20	(446)	483	(38)	617	617

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	4.13	5.32	—	—	—
’25	3.32	4.24	4.82	4.67	17.00
’24	3.02	3.73	4.02	3.86	14.64
’23	4.01	5.05	3.98	2.74	15.79
’22	2.62	1.08	3.53	4.29	11.53
’21	3.33	3.41	3.69	3.37	13.80
’20	1.93	1.74	2.75	3.52	9.94

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	100.08	141.12	133.78	141.11	85.09	125.45	138.43	108.53	128.31	150.75	Analyst estimates 2026–2028 Powerpack
	High	158.35	176.62	197.37	176.11	174.00	168.27	193.42	161.99	225.70	208.26
People
People	Employees	16,973	16,794	17,267	17,773	17,373	17,569	22,808	22,223	22,354	22,278
	Revenue/emp, $m	0.34	0.36	0.37	0.39	0.36	0.35	0.38	0.57	0.60	0.59
Income, $m
Income, $m	Revenue	5,722	6,019	6,455	6,941	6,281	6,106	8,604	12,752	13,453	13,228
	Gross margin, %	92.56	93.57	91.84	89.20	94.80	98.13	95.06	75.62	68.97	73.25
	EBT	2,058	2,324	2,508	2,547	1,770	2,455	2,612	3,619	3,310	3,692
	EBT margin, %	35.97	38.61	38.86	36.70	28.17	40.21	30.36	28.38	24.60	27.91
	Net income	1,315	1,408	1,918	1,929	1,353	1,859	1,992	2,741	2,588	2,851
	Depreciation	201	197	179	301	320	324	435	497	508	498
Per share, $
Per share, $	Revenue	36.50	39.56	44.83	51.64	48.83	47.46	52.73	76.65	80.81	83.79
	Earnings	7.80	8.72	12.75	13.76	9.94	13.81	11.59	15.85	14.71	17.10
	Cash flow	7.55	18.28	14.51	17.54	6.13	21.10	28.03	23.47	21.68	19.02
	Capex	(0.69)	(0.52)	(0.68)	(1.32)	(1.34)	(1.16)	(1.31)	(1.54)	(1.30)	(0.91)
	Free cash flow	6.86	17.76	13.84	16.21	4.80	19.95	26.72	21.93	20.39	18.12
	Book value	105.16	106.80	107.37	116.92	125.84	139.16	155.16	162.04	174.36	184.81
	Shares, m	157	152	144	134	129	129	163	166	166	158
Valuation, ×
Valuation, ×	P/E	20.09	19.68	11.18	12.34	12.81	11.12	12.52	8.77	12.78	11.76
	P/S	4.29	4.33	3.19	3.29	2.61	3.24	2.75	1.81	2.33	2.40
	P/B	1.61	1.73	1.45	1.58	1.10	1.22	1.01	0.93	1.18	1.21
	EV/Sales	4.79	4.58	2.97	2.98	(0.88)	(3.28)	0.12	0.11	1.71	1.81
	EV/FCF	25.49	10.20	9.62	9.50	(8.96)	(7.80)	0.23	0.39	6.78	8.37
Cash, $m
Cash, $m	Operating cash flow	1,183	2,782	2,090	2,358	789	2,715	4,574	3,905	3,610	3,003
	Capex	(108)	(79)	(98)	(178)	(172)	(149)	(214)	(256)	(216)	(143)
	Free cash flow	1,076	2,703	1,992	2,180	617	2,566	4,360	3,649	3,394	2,860
Balance, $m
Balance, $m	Working capital	4,364	4,417	5,925	7,442	7,755	8,491	(6,281)	(2,090)	(2,683)	(6,719)
	Total debt	9,494	8,141	8,445	6,986	4,382	3,485	3,965	8,201	12,605	10,911
	Net debt	2,849	1,509	(1,451)	(2,110)	(21,903)	(39,774)	(22,632)	(21,705)	(8,278)	(7,955)
	Shareholders’ equity	16,487	16,251	15,460	15,717	16,187	17,903	25,318	26,957	29,027	29,177
Returns, %
Returns, %	ROA	0.99	1.10	1.54	1.54	0.97	1.19	1.06	1.29	1.18	1.28
	ROIC	6.65	8.18	11.19	11.70	0.00	0.00	60.78	43.07	9.97	10.87
	ROE	8.10	8.77	12.55	12.89	8.70	11.43	9.58	10.93	9.50	10.19

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
KB KB Financial Group Inc	$41.7B	10.1×	—	+25.89% (above 0%: growing)	+12.12% (above 0%: growing)	+482.05% (above 0%: growing)	61.64%	0.00%	Compare
SHG Shinhan Financial Group Co Ltd	$33.1B	9.5×	9.1×	+27.14% (above 0%: growing)	+10.37% (above 0%: growing)	+120.93% (above 0%: growing)	63.24%	0.00%	Compare
MTB M&T Bank Corporation	$31.6B	11.3×	11.9×	+2.07% (above 0%: growing)	+25.59% (above 0%: growing)	+52.44% (above 0%: growing)	75.36%	0.00%
HBAN Huntington Bancshares Incorporated	$31.0B	11.6×	11.3×	+37.66% (above 0%: growing)	−2.86% (below 0%: shrinking)	+105.40% (above 0%: growing)	68.08%	0.00%	Compare
BAP Credicorp Ltd.	$30.9B	14.5×	10.9×	+12.23% (above 0%: growing)	+16.83% (above 0%: growing)	+76.09% (above 0%: growing)	82.34%	0.00%	Compare
BBDO Banco Bradesco SA	$28.5B	8.6×	—	+32.31% (above 0%: growing)	+30.00% (above 0%: growing)	−266.98% (below 0%: shrinking)	36.36%	0.00%	Compare
CFG Citizens Financial Group, Inc.	$26.7B	13.6×	12.3×	+6.25% (above 0%: growing)	+40.86% (above 0%: growing)	−17.35% (below 0%: shrinking)	71.46%	0.00%	Compare
RF Regions Financial Corporation	$23.3B	11.1×	10.9×	−2.14% (below 0%: shrinking)	+8.47% (above 0%: growing)	−39.63% (below 0%: shrinking)	80.19%	0.00%	Compare
FCNCA First Citizens BancShares, Inc.	$23.3B	11.4×	11.8×	+0.11% (above 0%: growing)	+31.07% (above 0%: growing)	+28.65% (above 0%: growing)	67.05%	0.00%	Compare
Median of peers	$29.7B	11.2×	11.1×	+19.06%	+14.48%	+52.37%	67.57%	0.00%

All 323 Banks Regional stocks →

M&T Bank Corporation (MTB) key facts

Concern: M&T Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $13.2 billion, down 1.67% from fiscal 2024.
Strength: Net income was $2.9 billion, or $17.10 per share (basic), a net margin of 20.4%.
M&T Bank Corporation (MTB) is a Banks Regional company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, MTB traded at $215.28, a market capitalization of $31.6 billion.
At that price the stock trades at 11.3× trailing-twelve-month earnings and 2.4× sales; its P/E is higher than 27% of its own readings over the past ten years.
M&T Bank Corporation pays an annual dividend of $6.00 per share, a yield of 2.79%, with a payout ratio of 31.7%.
Return on equity was 10.2% and debt-to-equity 0.49.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.